The ammunition manufacturing industry in the U.S. is a vital sector focusing on the production of firearms and ammunition for both military and civilian use. Companies range from large defense contractors like Lockheed Martin to smaller manufacturers specializing in sporting ammunition. The industry is seeing innovations driven by advancements in technology and increasing demand for high-performance products. With a growing emphasis on sustainability, many manufacturers are exploring eco-friendly ammunition alternatives. This shift, coupled with ongoing investment in research and development, suggests a bright future characterized by growth and technological evolution, tailored to meet a range of consumer needs.


This article highlights twelve notable investors in the ammunition manufacturing space, including venture capital, private equity, and corporate entities. Among them are firms like Starburst and Lockheed Martin, reflecting a range of backgrounds and expertise. Based in major U.S. cities including New York and California, these investors vary in size from small firms with fewer than 50 employees to large corporations employing thousands. Founded between 1966 and 2015, many have made considerable investments in 2024, showing their commitment to this vital industry.


Top 12 Ammunition Manufacturing Investors in the US


1. Lockheed Martin

  • Website: lockheedmartin.com
  • Type: Corporate
  • Headquarters: Bethesda, Maryland, United States (USA)
  • Founded year: 1912
  • Headcount: 10001+
  • Number of deals in 2024: 19
  • LinkedIn: lockheed-martin

Lockheed Martin Corporation, founded in 1912 and headquartered in Bethesda, Maryland, is a leading defense contractor that specializes in aerospace and military technologies. The company provides advanced solutions to government entities, including the U.S. Department of Defense and foreign governments, focusing on enhancing national security through innovative products like the F-35 and various missile systems. In recent transactions, Lockheed Martin Ventures has led funding rounds for X-Bow Launch Systems, which raised $70 million in Series B funding and is developing solid rocket motor technology. Additionally, they participated in an interim funding round for X-Bow Systems to support its STRATFI Program with the U.S. Airforce. These investments highlight Lockheed Martin's commitment to advancing technologies that are integral to ammunition manufacturing.


2. BRS & Co.


BRS & Co. is a private equity firm based in New York, founded in 1995, specializing in managing assets for lower middle market consumer companies. They provide strategic advice and operational support to management teams, focusing on driving sustainable growth through investments and acquisitions. BRS & Co. has made several notable investments in the outdoor and sporting goods sectors, including the acquisition of Remington Arms Company, a significant player in the ammunition manufacturing industry, in 2003. Additionally, they have invested in companies like Gamo Outdoor, Daisy Outdoor Products, Magpul Industries, and New Archery Products, which, while not exclusively ammunition manufacturers, are closely related to the outdoor and shooting sports markets. This diverse portfolio highlights their capability and interest in sectors that intersect with ammunition manufacturing.


3. Starburst


Starburst is a venture capital firm based in El Segundo, California, specializing in the aerospace and defense industry. Founded in 2012, the firm provides startup acceleration, strategy consulting, and venture investments to help clients innovate within these complex sectors. Starburst's clientele includes startups, corporations, and government entities looking to enhance their technological capabilities and secure funding. Notable transactions include investments in Ravyn Technology and Exosonic, both of which are involved in advanced technology sectors that could relate to defense applications. Most significantly, their investment in Atomic-6, an innovative aerospace company, highlights their engagement with firms that may have connections to ammunition manufacturing, further supporting their relevance in this industry.


4. Kkr

  • Website: kkr.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1976
  • Headcount: 1001-5000
  • Number of deals in 2024: 74
  • LinkedIn: kkr

KKR & Co. Inc. is a prominent investment firm based in New York, specializing in private equity, credit, infrastructure, and real estate. Founded in 1976, KKR has established itself as a global leader in asset management, providing tailored solutions to institutional investors and individual clients. Among their notable transactions, KKR acquired Dynamit Nobel in 2004, a significant player in the ammunition manufacturing sector, for approximately $2.79 billion. This acquisition highlights KKR's involvement in the defense industry. Additionally, KKR's acquisition of Novaria Group, a manufacturer of aerospace products, and Hyperion Materials & Technologies further demonstrates their engagement in sectors that are closely related to ammunition and defense technologies. KKR's strategic investments reflect their capability to navigate complex investment landscapes and their commitment to achieving strong financial returns for their clients.


5. American Industrial Partners


American Industrial Partners is a private equity firm based in New York, specializing in operationally-oriented investments in industrial businesses. Founded in 2005, the firm focuses on enhancing the performance of its portfolio companies through strategic financial support and operational improvements. In recent years, they have been involved in several significant transactions, including the acquisition of ADDMAN Engineering and the investment in Austin Powder, a company that produces explosives and related products. Their investment in Austin Powder, announced in July 2024, highlights their engagement in the ammunition manufacturing context. Additionally, their acquisition of L3 Crestview Aerospace, a manufacturer of aircraft components, demonstrates their broader interest in industrial firms, which may intersect with the defense and ammunition sectors.


6. Advent


Advent International Corporation is a private equity firm founded in 1984, based in Boston, Massachusetts. The firm specializes in buyouts and investments across various sectors, providing capital and strategic guidance to help companies achieve growth. Advent operates globally, focusing on long-term value creation for its portfolio companies. Notably, Advent has been involved in significant transactions within the defense sector, including the acquisition of Cobham, a U.K.-based aerospace and defense technology supplier, for approximately $5 billion in 2019. This acquisition received regulatory approval from the U.S., EU, and Finland, highlighting Advent's commitment to the defense industry. Additionally, Advent's earlier investment in H.C. Starck, a company known for its advanced materials used in various applications, further demonstrates its engagement in sectors that may intersect with ammunition manufacturing.


7. Wells Fargo

  • Website: wellsfargo.com
  • Type: Corporate
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 1852
  • Headcount: 10001+
  • Number of deals in 2024: 42
  • LinkedIn: wellsfargo

Wells Fargo & Company is a financial services company based in San Francisco, California, founded in 1852. It offers a wide range of banking products, including checking and savings accounts, loans, and investment management services, catering to both individual consumers and businesses. In recent years, Wells Fargo has been involved in several significant transactions, including a $40 million debt financing for Sturm, Ruger & Co, a prominent player in the firearms and ammunition industry. This transaction, along with others such as the $590 million raised by Cader Holdings and the $250 million raised by Mayville Engineering Company, showcases Wells Fargo's active role in providing financial solutions across various sectors, including those related to ammunition manufacturing.


8. Cerberus Capital Management


Cerberus Capital Management, L.P. is a private equity investment firm based in New York, specializing in alternative investments, including credit, private equity, and real estate. Founded in 1992, the firm provides capital solutions and operational expertise to a diverse range of investors, including pension funds and charitable foundations. Notably, Cerberus has made significant investments in the defense and ammunition sectors, including the acquisition of Remington Arms Company in 2007 for $370 million, which is a prominent player in ammunition manufacturing. In 2018, Cerberus acquired a 70% interest in Navistar Defense, enhancing its portfolio in the defense vehicle industry. Furthermore, the firm has also invested in Votaw Precision Technologies, a manufacturer of mission-critical hardware for aerospace defense applications. These transactions highlight Cerberus's commitment to the defense and ammunition manufacturing sectors, showcasing its capability to drive value creation in these industries.


9. 8vc

  • Website: 8vc.com
  • Type: Venture Capital
  • Headquarters: Austin, Texas, United States (USA)
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 62
  • LinkedIn: 8-partners

8VC is a venture capital firm founded in 2015 and based in Austin, Texas. The firm operates a job board connecting innovative companies with talent and investment opportunities, supporting businesses across various sectors, including technology and retail. Notably, 8VC has made significant investments in the defense sector, including leading a $19 million Series A funding round for Cambium, an advanced materials innovator focused on defense and high-performance applications. Additionally, 8VC participated in multiple funding rounds for Anduril Industries, a defense technology company that raised substantial capital, including $1.48 billion in Series E funding. These transactions highlight 8VC's commitment to supporting companies that contribute to defense capabilities, which is closely related to ammunition manufacturing.


10. Argosy Private Equity

  • Website: argosyprivateequity.com
  • Type: Private Equity
  • Headquarters: Wayne, Pennsylvania, United States (USA)
  • Founded year: 1990
  • Headcount: 11-50
  • Number of deals in 2024: 2
  • LinkedIn: argosy-partners

Argosy Private Equity is a private equity firm based in Wayne, Pennsylvania, founded in 1990. The firm specializes in partnering with lower middle market businesses to provide capital and strategic guidance, utilizing their proprietary Value Acceleration Methodology (VAM™). Argosy has a diverse portfolio, with a focus on advanced manufacturing and specialized services. Notably, they acquired SinterFire on April 27, 2012, a company that specializes in ammunition production, highlighting their engagement in the ammunition manufacturing industry. Additionally, they have made other acquisitions such as Sussex Wire and Capewell Aerial Systems, which, while not directly related to ammunition, showcase their broader investment strategy in manufacturing and defense-related sectors.


11. Trive Capital

  • Website: trivecapital.com
  • Type: Private Equity
  • Headquarters: Dallas, Texas, United States (USA)
  • Founded year: 2012
  • Headcount: 51-200
  • Number of deals in 2024: 5
  • LinkedIn: trive-capital

Trive Capital is a private equity firm based in Dallas, Texas, founded in 2012. The firm specializes in providing tailored capital solutions and operational improvements to middle-market businesses and corporate entities, managing over $7 billion in assets. Trive Capital focuses on complex investment situations, leveraging its operational expertise to drive value creation for its partners. Notably, Trive has made strategic investments in companies relevant to the defense sector, such as the acquisition of California Brazing, a manufacturer of complex components for aerospace and defense applications. Additionally, their acquisition of Independent Forgings and Alloys further indicates their engagement in industries that may intersect with ammunition manufacturing. These transactions highlight Trive Capital's potential relevance to the ammunition manufacturing sector, despite not being exclusively focused on it.


12. Warburg Pincus LLC

  • Website: warburgpincus.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1966
  • Headcount: 501-1000
  • Number of deals in 2024: 24
  • LinkedIn: warburg-pincus

Warburg Pincus LLC is a leading global private equity firm specializing in growth investments, founded in 1966 and based in New York, New York. With over $83 billion in assets under management, the firm partners with management teams across various sectors, including healthcare, technology, and financial services. Notably, Warburg Pincus has made significant investments in the defense and aerospace industries, which are closely related to ammunition manufacturing. For example, they acquired TransDigm in 2003 for $1.1 billion, a company known for its aerospace components, and Consolidated Precision Products in 2011, which specializes in precision manufacturing. These transactions highlight Warburg Pincus's strategic interest in sectors that may intersect with ammunition production, making them a noteworthy player in this investment category.



Ammunition Manufacturing Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
Lockheed MartinBethesda, Maryland, United States (USA)10001+191219
BRS & Co.New York, New York, United States (USA)11-5019950
StarburstEl Segundo, California, United States (USA)51-20020123
KkrNew York, New York, United States (USA)1001-5000197674
American Industrial PartnersNew York, New York, United States (USA)51-20020058
AdventBoston, Massachusetts, United States (USA)501-1000198417
Wells FargoSan Francisco, California, United States (USA)10001+185242
Cerberus Capital ManagementNew York, New York, United States (USA)501-100019929
8vcAustin, Texas, United States (USA)11-50201562
Argosy Private EquityWayne, Pennsylvania, United States (USA)11-5019902
Trive CapitalDallas, Texas, United States (USA)51-20020125
Warburg Pincus LLCNew York, New York, United States (USA)501-1000196624


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